Question

Drawings comes under which group in tally ?

Answer 1

Answer:

balance sheet asset side

Answer 2

Answer:

Drawing Ledger will be created under the Capital Account Group in Tally ERP9.

Explanation:

• Drawings are cash or bank withdrawals made by the business owner for personal use, and the value of such transactions should be debited to the Capital Account.

• Steps to create a Drawing Ledger in Tally-

1. Go to the Ledger Creation screen to create the Drawings Account Ledger in the Ledger Creation screen
2. In the Name field, type Drawings Account.
3. Select Capital Account from the List of Groups in the Under field.
4. Accept the screen to create the Drawings Ledger, and that's how you make a Drawing Account ledger in Tally ERP 9.

Hence, we can conclude that Drawings will be deducted directly from the Capital Account on the Liabilities side during the Balance Sheet preparation process.

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